Problema Solution
An investor invested a total of 3,500 in 2 mutual funds.One earned a 8% profit while the other earned a 4% profit. If the investor's total profit was $212, how much was invested in each mutual fund.
The amount invested in the mutual fund that earned %8 was?
The amount invested in the mutual fund that earned 4% was?
Answer provided by our tutors
x+y=3500
0.08x+0.04y = 212
0.08x +0.04 (3500-x) = 212
0.04x=212-140
0.04x=72
x=1800, y=1700
$1800 invested in the fund that earns 8%
$1700 invested in the fund that earns 4%